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Search Results 0 to 25 of about 26 (some duplicates have been removed)
cliff. president obama and congress are on christmas vacation. it will be thursday before talks resume to try and prevent automatic tax hikes and spending cuts from taking effect january first. andrew spencer has the latest. analysts say many shoppers haven't been in the holiday spirit when it comes to spending money. the four-day black friday weekend that started on thanksgiving was strong. sales rose 2-point-7 percent. but analysts says sales fell 4-point-3 percent for the week ending december 15th. and last week they forecasted holiday spending to decrease another 2-point- 5 percent. previous expectations were for a 3-point-3 percent increase in spending. the saint anthony foundation needs help to reach its goal of collecting 5-hundred hams during the 25th annual curbside donation drive. according to the foundation, they collected a hundred hams. that's just 20-percent of their goal. the foundation hoped to get another 400 hams sunday and today. if you would like to donate a ham you can do so at the drive. located in front of saint anthony's in san francisco's tenderloin area. from
around the world. president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take
the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that would happen if there is no deal. after our wednesday conference call, house republican leaders issued a statement saying they were waiting for the democratic controlled senate. the house will take this action on whatever the senate can pass they said but the senate first must act. in a sign of public frustration over the lack of a deal the coffee giant starbucks is asking employees in approximately 120 washington area cafes to write the words "come together" on cups for drink orders. >> we just wanted to have a subtle message of co
from going over the so-called fiscal cliff. they say if president obama and congress don't make a deal we will almost certainly see a recession. do you buy that, steven? >> the congressional budget office is a nonpartisan group that does this and says we will in fact have an immediate rescission. they say that we come out of a short, sharp recession stronger than we would be if we didn't go into that recession in the first place. we stop borrowing money from the future to prop us up now. we have the immediate problems but in the long term we are in gets shape. that's what they are grappling this. how do they best structure this to do the least amount of damage now but get us to the good economy in the future. >> reporter: if you look up a research paper from the president's own economist you'll find in the long run we are healthier, short run, yeah, it's painful. is that what motivates some of the republicans that, you know, what are called chuckle heads, but maybe in the end they are wisdom heads. >> that is certainly part of the motivation there. the other part of the motivation, and
spread to the attic. no injuries were reported. president obama is heading back to washington thursday to negotiate with congress, a way to avert this booklet but only the senate will be back in session. >> house members have not been called back to work. >> president obama is cutting his holiday vacation sure to come back and work on a deal. any deal may be a short-term fix. president obama will be leaving forwarmth of yhawaii washington. there is no specific deal on the table. democrats blame republicans for not agreeing to end tax cuts for the wealthiest americans. >> we're not going to let the rich pay one dime more. there is something awfully wrong with that picture. the american public is seeing that. >> republicans will not agree. they see there may be room for compromise. >> i know i am not in the majority and the red states annett -- in the senate. we have to sit down and hammer something out. >> if no deal is reached, americans will see their income taxes go up. 2 million peoplwill lose their jobless benefits. $110 billion in spending cuts will hit federal agencies. analysts
for president obama who will be leaving hawaii tonight to return to washington d.c. when congress returns. the press as returning to the white house to work i fiscal cliff deal before the year and. without an agreement automatic tax increases for everyone in the spending cuts will be triggered and the new year. an enormous storm system of snow and sleet of the nation's midsection enemies damaging tornadoes are on the deep south has begun putting its way toward the northeast, slowing holiday travel. >> storm tracker for tracking the showers we're seeing an let's resume and these areas. you can see it is at very scattered in this area. the shower is rather berkeley while my creek but they are very light right now. palo alto and east palo alto and the fattal of valley as well use the moderate to heavy rainfall. cupertino, this san rafael, san jose getting a lot of rain this morning. you can see out toward santa clara and downtown san jose looking at very wet conditions. rain coming down up to half an inch an hour but these are fairly fast moving headed to the south east. they will only last
solely at congress and president obama. >> i hope they take notice of it and it hits home with them that something needs to be happening. >> i don't know if it will work, but it's a great idea. >> at least do something, right? >> absolutely. get off their rear ends and do something. >> looks like they have written something on their cup there. >> it was hidden tore a second. yeah. it's there. >> do you think it's smart? >> i think it's good from the corporate world. at the they need to get people to come together. makes sense. >> if they would listen to starbucks they would solve this and we wouldn't go off the cliff. >> do you think it's a good idea? >> yes. >> do you think it will work. >> no. >> what do you think of the campaign. >> i think it's a great campaign because we don't want to pay higher taxes and have young people and seniors being affected by the economic hardship. times ever har. we've within in this almost ten years now so it's time to come together and solve a lot of issues outside of the fiscal cliff. >> do you think this will work, the campaign come together? >>
obama and congress, along with cappuccinos and lattes. wolf blitzer's off today. i'm joe johns. you're in "the situation room." >>> on this day after christmas, extreme weather is making travel slow, difficult, and dangerous for millions of americans. severe storms are moving toward the east coast right now, packing snow and threatening tornadoes. the kind of blizzard conditions that hit the midwest are moving into new england. the region could get more than a foot of snow tonight and tomorrow. in the south, a storm that unleashed tornadoes is heading into the carolinas and northern florida. at least three deaths are being blamed on the severe weather. cnn's holly firfer is at the busiest airport in atlanta. >> reporter: it's a tough day to travel. as that storm heads through the northeast, it's making it hard to travel by road and in the air. >> reporter: snow, ice, and high winds. >> we want to get out. >> it's always scary when you're flying, that you're going to be stuck in the airport. >> reporter: a massive storm that left many in the midwest and parts of the south with a whit
. america's seniors are on the verge of losing access to health care. how? if congress and president obama don't act by january 1, tomorrow, medicare payments to physicians will be reduced, will be cut by nearly 27%. you see, mr. speaker, the fiscal cliff is more than just the tax increases that president obama so dearly wants. the effect of the s.g.r. formula means that physicians who treat medicare patients will be forced to limit the number of seniors that they see, fewer patients being seen, doctors forced not to see patients because of foolish washington policy. this jeopardizes health care for millions of folks. the sustainable growth rate, the formula used by medicare to determine physician reimbursement, needs to be repealed. it doesn't work for patients and it doesn't work for doctors. and it's destructive to the very principles that we hold dear about health care. it violates accessibility. it violates quality, and it limits choices, it harms real people. now, there are positive solutions that we're working on so we may responseably reform this broken system, but while we work to
. >>> five days and the clock is ticking. that's how long the president and congress have to come up with an agreement to avoid going over the fiscal cliff. president barack obama is on his way back to washington from his vacation -- he's expected to arrive in d.c. later this morning. congress is back in the nation's capitol trying to hammer out a deal. congressional officials say they don't know if any significant strides toward a compromise will take place. or going to happen before new year's and without an agreement automatic tax increases for everyone and deep spending cuts especially to defense. they go intoe penalty in 2013. the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice pr
, but that's not stopping president obama from giving every member of congress a pay raise from as much as $6,000. joining us now is peter swietzer a research fellow at stanford university, hoover institution. good to see you, peter. >> hey, it's great to be out with me, thanks for having me. >> dave: is this a bit hypocritical talking about raising taxes for all americans if they don't get a deal done, yet, how do you go ahead and give congress a raise? >> that's a great question. you know, it beats me. there's been a pay freeze in effect since 2010 and obviously, they've done such a fantastic job between then and now that they deserve this pay increase, right? it makes no sense, it makes no sense in terms of the merits and the performance in washington has been terrible and it makes no sense in terms of the politics and the atmospherics, they're getting a pay raise before they fix the fiscal cliff? who gets a pay raise before they get the job done? it's a ridiculous notion and shows me how out of touch washington d.c. is with the rest of the country. >> dave: it's certainly not about merit.
manslaughter charges. >>> president obama is cutting short his vacation in hawaii to work on budget negotiations. mr. obama plans to leave hawaii late today and arrive in d.c. early tomorrow. he and members of congress are trying to find a way to avert the so-called "fiscal cliff." lawmakers will also be back in session on thursday without a deal by the end of the year automatic spending cuts and tax increases going into effect. >>> starbucks is trying to do what it can to urge a "fiscal cliff" compromise. the coffee chain is asking employees at its cafes in the d.c. area to write the words "come together" on cups for the next two days. starbucks plans to continue the effort on social media. >>> encouraging signs in the housing market. home prices rose in most major cities in october up more than 4% from a year earlier and october was the fifth straight month of year-over-year gains. taking a look at the big board now, you can see that stocks are down today in a light trading session. you can see the dow is down about 9 points. >>> a bay area family and the season of giving. how the
. >>> now, to the fiscal cliff. still looming large as president obama returns to the white house this morning. the president cut short his christmas vacation in hawaii to get back to washington. congress will be in session today, amidst fading hope that a deal could be reached by the new year. no agreement would mean spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today in salt lake city. the 200 teachers come from districts across utah. they have volunteered for the concealed weapons training. organizers say in past years, only a few dozen teachers attended the training. they're expecting an overflow crowd because of this month's tragedy in newtown, connecticut. >>> west webster volu
it will quick end in just five days if congress does not act. there is no sign of compromise between democrats and republicans. president obama has cut his vacation short and is returning to the white house now. without a budget agreement automatic tax increases for everyone and deep spending cuts will be triggered and the new year. the main dispute continues to be over taxes. americans filing unemployment last week as dropped to 350,000. futures are up right now. a letter from treasury secretary tam geithner to congress sent after the bell yesterday may also weigh on the markets. >> the woman accused of killing a grandmother and a drunk driving accident at the twin peaks without has made her first court appearance. 23 year old gina eunice is accused of a hit and run drunken-driving in vehicular manslaughter. the accident occurred three people and killed 56 year old yuee byao who was here visiting her new grandchild from china. the judge set the bail at $2 million. if she posted she must wear a scram device that checks to make sure she is not drink alcohol and is not allowed to drive. she will
obama says he remains optimistic, but he says no bargain could be reached in congress, then congress must vote on his back up plan to block taxes for anybody making less than $250,000 a year. chief congressional correspondent mike emmanuel has more. mike, you just got new details 23r* mitch mcconnell. what are they? >> that's right. discussions have been taking place all day. both sides have been trading paper, ideas and that talks continue. we understand legislative staff will continue working into this evening. meanwhile, huer is a fair and balanced look at where things stand. >> i do think that something will happen over the next few days relative to the revenue piece. hopefully we can rescue most americans from a tax increase. but what we haven't dealt with again is the spending component. jay we just can't afford -- >> we just can't afford a politically self-inflicted wound to our economy. keeping it that way means folks you sent to washington have to do their jobs. the housing market is healing, but that could stall as folks are seeing smaller paychecks. >> with time running ou
send our weak economy plunging back into a recession. president obama says he remains optimistic, but he says no bargain could be reached in congress, then congress must vote on his back up plan to block taxes for anybody making less than $250,000 a year. chief congressional correspondent mike emmanuel has more. mike, you just got new details 23r* mitch mcconnell. what are they? >> that's right. discussions have been taking place all day. both sides have been trading paper, ideas and that talks continue. we understand legislative staff will continue working into this evening. meanwhile, huer is a fair and balanced look at where things stand. >> i do think that something will happen over the next few days relative to the revenue piece. hopefully we can rescue most americans from a tax increase. but what we haven't dealt with again is the spending component. jay we just can't afford -- >> we just can't afford a politically self-inflicted wound to our economy. keeping it that way means folks you sent to washington have to do their jobs. the housing market is healing, but that could
: they know it will pass and they don't have to be responsible by defaulting on the debt. president obama's move to say let's take this out of congress and let me have sole authority to lift the borrowing authority whenever one won't fly. >> there have been a lot of shenanigans around this in the past. the conversation is when we are doing spending. when we are passing appropriations is the time to say should we spend this money or not? they are deciding to spend the money and don't want to pay the bill and that is not the right time to have this conversation. shibani: is not in the household or the government. thank you very much, have a happy new year. it is a quarter till. every 15 minutes stocks, lauren simonetti looking at the s&p 500's biggest loser. >> advanced microdevices are selling off by 4.5% and if you take a look at the stock for the week it is pretty ugly, into the double digits, the reason is a 25 year veteran of the company to rival samsung, that is weighing on the stock and that is a pretty bad week. shibani: a bad week for overall stock. we are trading at tight range, a
in congress. 37% blame -- would blame president obama and 11% blame both. so there's a political reality to the fact that the gop is stuck between a rock and a hard place. they'll get blamed if it happens and they'll get blamed if they vote for anything that looks like a tax increase. >> listen, the republican party gets blamed if it's sunny outside. so i'm not really worried about that and neither should people be. but you bring up the point, this should not be above who suffers in the polls. this should be about fixing the united states of america and, you know what, people need to be willing to take a vote even if it means they don't come back. >> yeah, well that's the problem, right? you and i talked about this before. we're in constant campaign mode. a compromise would require that both parties, all parties involved actually pay some price, that it costs somebody something. what is the specific problem, though, on the republican side in terms of the lack of compromise? again, i want to show you the same poll that we did on december 17th and 18th asking about whether the republican p
at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his hawaii vacation yesterday. speaker boehner call the house back into town for an unusual sunday session. members of congress understand the 11th hour acts may not be enough to appease the public. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you are having a great friday morning dry sky over san francisco from the east to sutro tower. light rain showing up off the sonoma county coast,oo8Ñ let's zoom down and show you highway 1 from to inverness looks like it is r
obama cutting short his hawaiian vacation and will be in washington tomorrow. dennis: congress also set to return to d c tomorrow perhaps mounted what everyone hopes will be a last-ditch offered to stave off the fiscal cliff. peter barnes joins us from the belt way. peter: here's what the official spokespeople for all the leaders are saying about this this morning. from the white house, quote, we will let you know if we had any updates. from senate democratic leader harry reid, quote, nothing to report. no conversations with republicans yet. said republican leader mitch mcconnell, quote, no our reach for many democrats. we talk to the speaker's office all the time and always do but the house passed legislation and we are waiting on senate democrats. house speaker john boehner, quote, nothing new and from democratic leader of the house nancy pelosi, her spokesperson saying, quote, i don't know anything right now. as of now the cliff remains clearly in sight. if nothing is done on january 1st, the nation faces a $5 trillion tax increase over ten years through the expiration of a george bu
:06. president obama flew back to washington from hawaii overnight to work on the plan to avoid the "fiscal cliff." cbs reporter tara mergener says congress remains gridlocked and fewer americans expect any progress before the new year. >>> reporter: senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the "fiscal cliff." higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good morning? >> reporter: house republicans scuttled the proposal from speaker john boehner last week
of schatz is flying to washington with president obama he is expected to be sworn in later. those are the headlines for you. >> clayton: we'll talk the scal cliff. today is the twenth. a few days left for congress and the president to get their act together. the president took a red eye flight back from hawaii. why did congress and the president go on raication at all. >> yeah, we all go to work. >> there is nothing on the table . kelley. >> a lot of people feel they are left in the lurch by the president and congress. and they didn't get the job done . here's what we are facing. we are teetering on the edge of the fiscal cliff. there are many members in congress who disaagree raising of tax. the president had gone up to $400,000 when house speaker boehner would raise the tax hikes . but the sticking point is enments and spending. >> clayton: the republicans saying that the president and democrats not forth coming enough on entitlements. here's what will unfold in a few short days as we break this down to you. >> put your seat belts on, people. >> clayton: tax rates will hit these
on the new income in congress. it's interesting that we have the same with k. bailey hutchinson. what's gotten her is fleethat t will go home and obama will introduce his own package and they have nothing to do but accept it. or they get blamed for everything. >> can you recall a time in your life and your politics, a couple of years at least, a comparable level of incompetence in washington. >> the last four years. i spent some of the time over the holidays for my since reading about this. my overall reaction is groundhog day. it's the same issues. some of the same players and the same questions of spending and entitlements and taxation and debt ceiling. nothing has changed. what's depressing to me is we had four years or longer to wrestle with these issues and there is virtually no signs of progress. we have two more self-imposed ceilings. a u.s. government that sticks a gun to its head, but says we don't trust ourselves any more like normal people. even presidential commissions don't work. what we have to do is give ourselves artificial deadlines and bring ourselves to the precipic
? ♪ ♪ na na na na na na na na ♪ and everybody go uh! >>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior congressional correspondent. we spoke last hour. you told us that hour speaker john boehner was to convene this conference call to decide whether or not to call the house back into session. we know the senate is supposed to convene, but nothing can, of course, take place until the house is in session as well. do we know the results of that conference call? will boehner reconvene the house? >> reporter: i'm told by a source familiar with the call, which just happened within last hour, as you said, that no decision was made on the schedule or timing for the house. as we talked about an hour ago, the leaders in the house have promised the members that they won't be called back without 48 hours notice. so at t
Search Results 0 to 25 of about 26 (some duplicates have been removed)